Lumber Soars to Six-Month High as Buyers Scurry to Find Wood
- Western Canadian flooding forced curtailments at some sawmills
- December is typically a seasonal lull for lumber buying
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Strong building demand and renewed supply challenges have sent lumber prices surging to the highest in six months.
Lumber futures on the Chicago Mercantile Exchange jumped 4.4% to a six-month high of $1,069.30 per 1,000 board feet Friday. This extends a 68% rally that began in mid-November, when flooding in Canada’s westernmost province damaged major highways and rail tracks.